DowntownForex » USD/JPY http://www.downtownforex.com Your Forex Resource Site Fri, 22 Jul 2011 14:37:59 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 USD/JPY – June 12th Trade Idea http://www.downtownforex.com/2009/06/11/usdjpy-june-12th-trade-idea/?utm_source=rss&utm_medium=rss&utm_campaign=usdjpy-june-12th-trade-idea http://www.downtownforex.com/2009/06/11/usdjpy-june-12th-trade-idea/#comments Fri, 12 Jun 2009 02:33:51 +0000 admin http://www.downtownforex.com/?p=140
By – Forex District
USD/JPY Open 97.65 High 98.43 Low 97.35 Close 97.61

usdjpyDollar/Yen made an insignificant downward movement yesterday. This confirms the consolidation phase of the currency couple and the unclear movement direction, till trading range is within the triangle formation on the 1 hour chart. Immediate support is 97.25, followed by 96.00. The nearest resistance is 98.40. The CCI indicator just crossed down the 100 line on the 1 hour chart, indicating potential downward pressure.
Technical resistance levels: 98.40 99.80 101.00
Technical support levels: 97.25 96.00 95.85

Trading range: 97.90 – 98.55
Trend: Upward
Buy at 98.04 SL 97.74 TP 98.44

USD/JPY 98.04 - 12 June

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